Unit 3 db - You have been hired as the CFO of a new company...

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You have been hired as the CFO of a new company and are determining the company's accounting needs. Explain to your staff at least 2 ways in which accounting data are used to make business decisions. Explain at least three related accounting terms or theories Hello fellow ABC’ers. AS your new CFO I wanted to discuss a few things with you. Many people are unaware in all the areas accounting data is used. Today I would like to discuss a few of those areas. First off is what is the company's average cost per unit of labor? (Managerial accounting, 2010) In other words how much is it costing us in labor time to produce our product? This data can be very useful in determining materials used, staffing needs, production time etc. Second area many not think accounting data is used for is marketing. One can ask the question; how many dollars in sales does each marketing dollar bring in? (Managerial accounting, 2010). Accounting data can provide answers to this question. When you look over
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Unit 3 db - You have been hired as the CFO of a new company...

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